Diana Shipping (NYSE:DSX) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Diana Shipping (NYSE:DSX) from a sell rating to a hold rating in a report published on Tuesday morning.

Diana Shipping Stock Performance

Shares of Diana Shipping stock opened at $1.81 on Tuesday. The firm has a market cap of $226.52 million, a P/E ratio of 20.11 and a beta of 1.16. The company has a current ratio of 2.10, a quick ratio of 2.04 and a debt-to-equity ratio of 1.11. Diana Shipping has a 12 month low of $1.79 and a 12 month high of $3.48. The stock’s fifty day moving average price is $2.31 and its 200-day moving average price is $2.59.

Diana Shipping Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.04 annualized dividend and a yield of 2.21%. Diana Shipping’s dividend payout ratio (DPR) is presently 333.37%.

Hedge Funds Weigh In On Diana Shipping

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pekin Hardy Strauss Inc. purchased a new position in Diana Shipping in the third quarter valued at about $3,164,000. Marshall Wace LLP grew its stake in Diana Shipping by 197.9% in the second quarter. Marshall Wace LLP now owns 403,909 shares of the shipping company’s stock valued at $1,155,000 after purchasing an additional 268,337 shares during the last quarter. Choreo LLC purchased a new position in Diana Shipping in the second quarter valued at about $38,000. Bright Futures Wealth Management LLC. purchased a new position in Diana Shipping in the first quarter valued at about $53,000. Finally, GSA Capital Partners LLP purchased a new position in Diana Shipping in the third quarter valued at about $176,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

Diana Shipping Company Profile

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.